On the 5-min BTC/USD chart prices are starting to break lower after a very slow news day. It was noted earlier that when good news like the Telegram story does not inspire a price rally we may be in dangerous territory.

The Stochastic has turned south into the oversold area with both the K and D lines in negative territory.

The MACD indicator’s histogram has also crossed the mid-line into the red with the faster MA also crossing lower.

From a support point of view, there are now two major levels to watch out for. The 10,100 and 10,000 psychological level. It will be interesting to see if bulls come in to protect Bitcoin.

Paperblockchain.com is your premier source for everything Bitcoin related. We however are not the Bitcoin network itself, and cannot assist with questions unrelated to the paperblockchain.com suite of tools and services. If you need help with general Bitcoin network questions and issues, please visit our Education page and ask questions there for a free and open discussion about Bitcoin with others in the Bitcoin community.